Fastenal (FAST) PT Raised to $62.00
Fastenal (NASDAQ:FAST) had its price objective increased by analysts at Stephens from $54.00 to $62.00 in a research report issued on Thursday, January 18th. The firm currently has a “buy” rating on the stock. Stephens’ target price would indicate a potential upside of 7.47% from the stock’s previous close.
A number of other research firms have also recently commented on FAST. Zacks Investment Research cut shares of Fastenal from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Credit Suisse Group reissued an “outperform” rating and set a $61.00 target price (up previously from $52.00) on shares of Fastenal in a research report on Tuesday, January 9th. BMO Capital Markets reissued a “hold” rating and set a $57.00 target price on shares of Fastenal in a research report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and set a $51.00 target price on shares of Fastenal in a research report on Monday, December 11th. Finally, Robert W. Baird reissued a “buy” rating on shares of Fastenal in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Fastenal has a consensus rating of “Buy” and an average price target of $53.29.
Shares of Fastenal (NASDAQ:FAST) traded up $0.59 on Thursday, hitting $57.69. 2,624,542 shares of the stock traded hands, compared to its average volume of 2,670,000. Fastenal has a 52-week low of $39.79 and a 52-week high of $57.81. The stock has a market cap of $16,580.00, a PE ratio of 28.70, a PEG ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.51 and a quick ratio of 2.40.
In other news, insider Terry Modock Owen sold 30,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.02, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James C. Jansen sold 10,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the insider now owns 22,588 shares in the company, valued at approximately $1,095,518. The disclosure for this sale can be found here. Insiders sold 62,746 shares of company stock worth $3,061,819 in the last quarter. Company insiders own 0.55% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its holdings in Fastenal by 44.9% during the second quarter. Commonwealth Bank of Australia now owns 2,429 shares of the company’s stock valued at $104,000 after purchasing an additional 753 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Fastenal in the 3rd quarter valued at $114,000. Cable Hill Partners LLC acquired a new position in Fastenal in the 3rd quarter valued at $126,000. Krilogy Financial LLC increased its stake in Fastenal by 2.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,530 shares of the company’s stock valued at $154,000 after buying an additional 70 shares during the period. Finally, LaFleur & Godfrey LLC acquired a new position in Fastenal in the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 84.60% of the company’s stock.
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Fastenal Company is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 stores. Its customers are in the manufacturing and non-residential construction markets.
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